The social media giant said it has found errors on four fronts, including the way it calculates unique page views on its Facebook Pages, the number of full video views by consumers, and time spent with publishers' Instant Articles. Pages is mainly touted for use by businesses looking to build their brands.

"On one of our Pages dashboards, one summary number showing 7-day or 28-day organic page reach was miscalculated as a simple sum of daily reach instead of de-duplicating repeat visitors over those," the company said in a statement Wednesday on Facebook.

"Therefore, weekly and monthly figures were over-reported and, will be 33% lower on average in weekly views and 55% lower on monthly views. Time spent on Instant Articles, created for consumers to experience fast, interactive content on mobile devices, was over-reported by 7-8% because of a calculation error and time spent watching complete videos were under-counted due to differences in video players and devices."

Facebook has caught flak in the past for issues with its metrics system. Two months ago, the $350 billion company admitted it had been overemphasizing average viewing time for video ads for close to two years and, most recently, had come under fire for the distribution of "fake news" during the U.S. election cycle.

But Carolyn Everson, Facebook's vice president of global marketing solutions, told The Wall Street Journal, the company was "doubling down on our efforts at third-party verification" in order to improve trust and confidence with ad companies and marketers.

Facebook said it has found errors on four fronts, including the way it calculates unique page views on its Facebook Pages, the number of full video views by consumers, and time spent with publishers' Instant Articles.